TLDR
- SpaceX moved $257M in Bitcoin across two wallets, data from Nansen shows.
- The firm’s last movement in July totaled $153M, ending a two-year silence.
- The new transfers mark SpaceX’s second large-scale activity in three months.
- Neither receiving address has sold or moved Bitcoin since the transactions.
SpaceX executed two large Bitcoin transfers totaling $257 million on Tuesday. The movements marked the company’s first wallet activity since July and its second multihundred-million-dollar shift in three months. The transfers appeared amid financial and political pressure surrounding the firm, according to the provided context.
However, SpaceX did not state a purpose for the transactions. Meanwhile, the receiving addresses have not moved or sold the funds. Data from blockchain intelligence platform Nansen identified the wallets involved and the destination addresses.
Fresh On-Chain Activity After a Quiet Stretch
Nansen data recorded a SpaceX-labeled wallet “1MDyM” sending $130 million in Bitcoin to address “bc1qj.” It also showed another SpaceX wallet “1AXeF” transferring $127 million to address “bc1qq.” Notably, neither destination address has spent or redistributed the Bitcoin.
The activity followed SpaceX’s July transfers of $153 million, which represented its first on-chain fund movement since 2022. Therefore, Tuesday’s shifts extended a renewed period of wallet activity into the second half of 2025. However, the company did not provide any related commentary.
Context From Prior Disclosures and Corporate Holdings
The firm first disclosed its Bitcoin holdings in July 2021. That disclosure arrived alongside Tesla’s separate announcement earlier that year that it had purchased $1.5 billion in Bitcoin. Meanwhile, the current transfers occurred while Elon Musk continued to highlight Bitcoin’s energy-based, inflation-resistant design, as previously stated.
However, the Tuesday movements did not include any statement from SpaceX regarding strategy, custody, or use of proceeds. Nansen served as the source for the specific wallet attributions and transaction paths.
Tesla’s Policy Shift and Market Reaction Provide Background
Tesla suspended Bitcoin payments for vehicles in May 2021, citing environmental concerns. The decision coincided with a swift market reaction. Within an hour, Bitcoin fell from $54,800 to $51,600, a 6% drop. However, Tesla has not sold most of its Bitcoin, based on prior disclosures. The company also has not announced a return of Bitcoin payments. Previously, Elon Musk indicated that a broader shift toward renewable energy use by miners would prompt reconsideration. Meanwhile, the latest SpaceX transfers did not reference Tesla’s policies or payment timelines and did not include an operational update.
Nansen remains the cited source for the on-chain evidence of SpaceX’s activity. The platform attributed the initiating wallets and detailed the destinations. However, SpaceX has not commented on intent, timing, or disposition plans. Therefore, the observable facts consist of the two transactions, their sizes, the identified addresses, and the lack of subsequent movements from the recipients. The July transfers, the 2022 inactivity, and the 2021 holding disclosures provide the historical frame for Tuesday’s actions without indicating outcomes.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
